Whether you get bags or super dooper expensive coilovers, its not going to be worth it for what you want.
You said: "Basically I want to drive and change ride height for cruising, cornering etc."
I heard: "Basically I want to drive with it dragging on the ground when I'm doing hot laps, but want to be able to bring it back up to legal height if the cops are nearby".
There's no other reason to want to change ride height on the fly. It certainly has nothing to do with cruising and cornering like you said.
So, now that we've cleared that up... it'll actually be cheaper if you just install shocks and springs at the height you want, and when you get defected for dragging the ass on the ground, install the stock and get the defect cleared. You could do this many times over and still be in front money wise.
Unless of course you want the poser wank factor... excuse me, the convenience of height adjustment on the fly.... then of course, just get baggies regardless of cost. God speed to you
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